IOZ vs DACE: Which ETF Is Better?
A side-by-side comparison of fees, size, returns and holdings, using data to 30 September 2026.
IOZ comes out ahead on 4 of 7 measures. Which matters most depends on you.
The short answer
Worth about $16,156 on $100,000 over 20 years.
Bigger funds usually trade more cheaply and are less likely to close.
A tighter gap between the buy and sell price.
IOZ vs DACE side by side
| IOZ leads on 4, DACE on 3 | IOZiShares Core S&P/ASX 200 ETF | DACEDimensional Australian Core Equity Trust – Active ETF |
|---|---|---|
| The basics | ||
| Index tracked | S&P/ASX 200 Index | See the PDS |
| Fund manager | iShares | Dimensional |
| Asset class | Australian shares | Australian shares |
| Listed | Dec 2010 | Nov 2023 |
| Cost and size | ||
| MERyearly fee, lower is better | 0.05%✓ | 0.28% |
| AUMfund size | $9.7bn✓ | $7.2bn |
| Net flows (Sep)new money in, last month | $321m✓ | $91m |
| Bid/ask spreadtrading cost, lower is better | 0.04%✓ | 0.14% |
| Total returns | ||
| 1 month | −2.4% | −1.8%✓ |
| 1 year | +2.6% | +4.9%✓ |
| 3 years p.a. | +10.8% | – |
| 5 years p.a. | +6.8% | – |
| $10,000 invested | ||
| 1 year ago | $10,262 | $10,493✓ |
| 5 years ago | $13,895 | – |
✓ marks the better figure on each measure. Returns include distributions, to 30 September 2026.
IOZ vs DACE price chart
Both ETFs on one chart as % change. Use the 1D to All buttons to change the period. Price only, so it leaves out distributions · TradingView
What $10,000 invested is worth now
Only IOZ has a 5 years record: $10,000 then is worth $13,895 today.
Total returns to 30 September 2026, with distributions reinvested, before tax and brokerage. The price chart above leaves out distributions, so it can look worse. Past performance is not a reliable indicator of future performance.
What the fees cost you
IOZ's lower fee leaves about $16,156 more in your pocket over 20 years.
Total fees paid on a $100,000 investment, assuming a 7% a year return before fees. Illustration only: it ignores tax, brokerage and differences in returns.
Do IOZ and DACE hold the same companies?
8 of their top 10 holdings are the same. Holding both adds little diversification.
| Company | % of IOZ | % of DACE |
|---|---|---|
| BHP Group Ltd | 10.83% | 8.85% |
| Commonwealth Bank of Australia | 10.33% | 4.58% |
| National Australia Bank Ltd | 4.79% | 2.98% |
| Westpac Banking Corp | 4.66% | 3.31% |
| ANZ Group Holdings Ltd | 4.56% | 2.53% |
| Wesfarmers Ltd | 3.22% | 1.99% |
| Woodside Energy Group Ltd | 2.35% | 2.43% |
| Goodman Group | 2.05% | 1.81% |
Based on the top 10 holdings last published by each issuer.
Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.
Get the full IOZ vs DACE report
- Every holding of each ETF: the top 50 companies, with sectors and countries
- Exactly which companies they share, and how much of each
- Fees in dollars over 10, 20 and 30 years
- Every metric side by side, including the index each tracks
- ★ FREE BONUSIs now a good time to invest? The Market Health-O-Meter
FAQs
Which is better, IOZ or DACE?
It depends on what you need. On our numbers IOZ wins on 4 measures and DACE on 3. IOZ is cheaper, with a management fee of 0.05% vs 0.28%. On $100,000 over 20 years that difference is worth about $16,156. IOZ is the larger fund at $9.7bn vs $7.2bn. DACE has the better 1-year return: +4.9% vs +2.6%.
Which is cheaper, IOZ or DACE?
IOZ charges 0.05% a year and DACE charges 0.28% a year.
Can I hold both IOZ and DACE?
You can, but check how much they overlap. IOZ is a Australian shares fund and DACE is a Australian shares fund.
More comparisons
General information only, not a recommendation. Past performance is not a reliable indicator of future performance.